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Search Results 0 to 7 of about 8 (some duplicates have been removed)
business. >>> coming up, is the end of tax-free online shopping near? we will present both sides of a hot debate that could impact your money. first, a look at how the international markets closed today. >> when you buy items over the internet, do you pay taxes on them? apparently a lot of us don't, there's no legislation that is aimed at making sure that everyone pays up no matter the state they live in. and a vote could come this week. we are in washington with more of the very controversial legislation. so, who is behind this move on collecting more sales tax? >> well, it's a good question. it's something the retail industry has wanted to do for more than a decade, make sure that internet vendors collect sales tax for products sold online. the united states senate is taking up a bill that would allow states to collect sales taxes from us of state companies. >> there's some items where consumers are price sensitive and online retailers that do not collect sales taxes can under ku cut can the brick and mortar retailer by 10% because of the situation. >> that ends up for big money for har
want to squeeze in a tax question. we hear that the obama administration may want to put a cap on the tax exemption. is that another reason to clean up your portfolio now rather than wait? >> well, i don't know that it's another reason to clean up your portfolio, but it's certainly something to keep on the radar screen. you know, obviously, with everything that's going on in washington, everything is on the table. and with each one that comes out, there's a proposal that there would be a 28% cap on deductions so no one would be lower than the 28% tax bracket. that means you couldn't have all tax-free income that would put you in no tax bracket. in essence, that would be a tax on municipal bonds. mayors and governors are fighting this very, very aggressively. and each time they seem to get it out of the budget proposal and then a new budget proposal comes out and it's back in. i do believe that ultimately, state and local governments will be success chl in arguing that this will drive the economy right back into the recession and actually won't solve the greater purpose of helpi
Search Results 0 to 7 of about 8 (some duplicates have been removed)